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"Shock treatment that may well kill the patient." China/USA tariffs explained in 10 minutes. The USA picked a fight with the one country that can stand up to the USA.
Canada, Greenland, Mexico, etc - USA Tariffs / Trade War commencing March 2025 #4
- Thread starter Sillybilly
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President Trump said there could be a potential trade deal in the works with South Korea, saying the country has a team traveling to the United States to make a deal, nearly a week after Trump’s latest tariff announcement.
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I think this is the real him. There is no explanation for going from rational to irrational. He probably never had principles and is an opportunist by nature.
Vance has to be the ultimate yes-man attack-dog for Trump if he is to retain any hope of being in the Trump succession, even if he is only elected as a sham President for Trump, who would still be pulling the strings.
Trump learned his lesson about Pence, about having someone he could not completely control too close to him, and he wants to assure his underling will not be able to topple him.
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About Peter Navarro, the "mastermind" behind this whole mess
"top White House trade adviser, has developed a reputation in Washington as a Rasputin-like China hawk who whispers anti-China musings in President Trump’s ear.
This week, Washington learned about the mysterious anti-China voice that has long whispered in Mr. Navarro’s ear: Ron Vara.
Ron Vara has appeared as a cryptic voice of economic wisdom more than a dozen times in five of Mr. Navarro’s 13 books, dispensing musings like “You’ve got to be nuts to eat Chinese food” and “Only the Chinese can turn a leather sofa into an acid bath, a baby crib into a lethal weapon and a cellphone battery into heart-piercing shrapnel.”
But Ron Vara, it turns out, does not exist. At least not in corporeal form. He is apparently a figment of Mr. Navarro’s imagination — an anagram of Mr. Navarro’s surname that the trade adviser created as a Hitchcockian writing device and stuck with as something of an inside joke with himself"
Peter Navarro Invented an Expert for His Books, Based on Himself (Published 2019)
President Trump’s trade adviser frequently cited Ron Vara, a fictional source who was a critic of China, in his writings.www.nytimes.com
Yeah. Actually old news. NPR called out Trump and Navarro for the non-existent Ron Vara during Felon Trump's first go round as 45.
Excellent journalism!! Explains why the Felon as 47 has sicked the Doge on them. Revenge as Trump loves.
Trump already knew, and ignored, the fact that Navarro is a useless twit and an even more useless economist/advisor.
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China's BYD auto company is showing vigorous 1st Quarter 2025 growth with sales of more than 1,000,000 EVs in the first 3 months of 2025.
"In Europe, where BYD is making inroads and building two manufacturing plants, Tesla is struggling with slumping sales. In February, Tesla’s sales there plunged around 40% from the same month in 2024, according to the European Automobile Manufacturers’ Association"
Plus - 90% of BYD's sales were domestic and only 10% were foreign. The backlash from Trump's tariff may very well be an incentive to BYD to be marketing far more heavily in the European, African, south Asian , and South American markets that were very receptive to the first BYD vehicle offerings.
"The vast majority of BYD’s shipments last year were delivered to domestic customers with just 10% exported to overseas markets. As a result, investors and analysts are bullish on BYD’s growth potential as the automaker advances in markets like Europe, Southeast Asia and South America."
And China has two other major EV auto manufacturers, too.
"In Europe, where BYD is making inroads and building two manufacturing plants, Tesla is struggling with slumping sales. In February, Tesla’s sales there plunged around 40% from the same month in 2024, according to the European Automobile Manufacturers’ Association"
Plus - 90% of BYD's sales were domestic and only 10% were foreign. The backlash from Trump's tariff may very well be an incentive to BYD to be marketing far more heavily in the European, African, south Asian , and South American markets that were very receptive to the first BYD vehicle offerings.
"The vast majority of BYD’s shipments last year were delivered to domestic customers with just 10% exported to overseas markets. As a result, investors and analysts are bullish on BYD’s growth potential as the automaker advances in markets like Europe, Southeast Asia and South America."
And China has two other major EV auto manufacturers, too.
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He appeared to have been rational and intelligent in his book...but maybe he had a strong editor or even ghost writer.
But, I also think ideology creates that black and white thinking process...Trump good, Europe bad. No shades of gray.
Someone said he could never last as President, he's just fundamentally too unlikeable.
JMO
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EU drops plans to hit American bourbon with retaliatory tariffs
[...]
Bourbon and other US whiskeys have escaped EU countermeasures after heavy lobbying from the EU’s drinks-producing countries – such as whiskey-making Ireland and the wine behemoths Italy and France – who feared their alcohol industries would become casualties of a global trade war.
Bourbon and wine have been removed from a draft list of US goods that will be subject to EU retaliatory tariffs in response to Trump’s duties on steel and aluminium announced last month, according to a leaked list first reported by Reuters.
EU member states will vote on the final list on Wednesday, which targets €21bn goods, down from €26bn originally foreseen, after talks with the EU’s 27 member states and many industry bodies. The list of potential targets facing mostly 25% retaliatory tariffs now ranges from almonds to yachts, via diamonds and dental floss, soya beans and steel parts. But bourbon and wine have been dropped.
[...]
www.theguardian.com
[...]
Bourbon and other US whiskeys have escaped EU countermeasures after heavy lobbying from the EU’s drinks-producing countries – such as whiskey-making Ireland and the wine behemoths Italy and France – who feared their alcohol industries would become casualties of a global trade war.
Bourbon and wine have been removed from a draft list of US goods that will be subject to EU retaliatory tariffs in response to Trump’s duties on steel and aluminium announced last month, according to a leaked list first reported by Reuters.
EU member states will vote on the final list on Wednesday, which targets €21bn goods, down from €26bn originally foreseen, after talks with the EU’s 27 member states and many industry bodies. The list of potential targets facing mostly 25% retaliatory tariffs now ranges from almonds to yachts, via diamonds and dental floss, soya beans and steel parts. But bourbon and wine have been dropped.
[...]
EU drops plans to hit American bourbon with retaliatory tariffs
Drink removed from draft list after lobbying from whiskey-making Ireland and wine-producing Italy and France
'Everything is on the table,' says Scott Bessent on negotiations around EU 'non-tariff barriers'
“Everything is on the table,” Bessent said when asked whether the European Union needed to lower non-tariff barriers including value-added taxes (VAT).
His reference to “non-tariff barriers” mirrors Donald Trump’s comments from the Oval Office yesterday about his qualms with “non-monetary tariffs” regarding the EU, but he was less vague than Bessent, suggesting that EU standards, rules and regulations were “non-monetary barriers” for US companies trying to trade with the bloc.
“It’s not only tariffs, it’s non-monetary tariffs. It’s tariffs where they put things on that make it impossible for you to sell a car. It’s not a money thing. They make it so difficult – the standards and the tests,” Trump said.
“So they come up with rules and regulations that are just designed for one reason: that you can’t sell your product in those countries and we’re not going to let that happen. Those are called non-monetary barriers,” he said.
The European Union still wants to avoid a trade war with the United States despite Donald Trump’s administration’s rejection of the “zero for zero” offer on all industrial goods put forward by Brussels, an EU spokesperson told reporters on Tuesday.
White House trade adviser Peter Navarro said on Monday that the European Union needed to lower its non-tariff barriers, including those created by value-added taxes and food safety regulations, if it wanted to reach a deal.
“The situation hasn’t changed. We want to avoid tariffs … we are waiting for our American counterparts to engage in a meaningful way,” he said.
Trump discusses ‘major’ tariffs on pharma imports at Republican dinner – as it happened
This live blog is now closed
Is Value-Added Tax a tariff? What is the purpose of the VAT?
Value-Added Tax (VAT) is a consumption tax, similar to sales taxes in the United States, and is used in over 170 countries worldwide. It is applied on a non-discriminatory basis, regardless of where a product is made. Any company selling goods for consumption in the EU—whether foreign or domestic—must pay VAT. EU produced goods pay exactly the same VAT as any imported goods. VAT is not a trade measure, let alone a tariff. It is clearly not a measure applied exclusively to foreign goods like an import tariff.
How does the WTO consider internal taxes like VAT and are they allowed?
The EU's VAT system is fair and non-discriminatory, applying equally to both domestically produced and imported goods. Any company selling goods for consumption in the EU—whether foreign or domestic—must pay VAT. EU produced goods pay exactly the same VAT as any imported goods. As such, VAT is a domestic, non-discriminatory tax, which is allowed by the WTO, GATT Article III, since its creation in 1947.
Questions and Answers on the US reciprocal tariff policy
What is the current value of EU-US trade and investment?\n\nTotal bilateral trade in goods reached €851 billion in 2023. The EU exported €503 billion of goods to the US market, while importing €347 billec.europa.eu
So Trump wants EU to drop safety standards for autos and food?
So the US can just dump some junk cars and Grade B beef on EU and expect them to say Thank You, Sir?
Leavitt is asked about under what conditions Trump speak to China's President Xi Jinping about a deal.
She says Trump "believes that China wants to make a deal".
It was a "mistake" for China to retaliate, Leavitt argues, which is why they are implementing 104% tariffs against them.
If China reaches out, Trump will be "incredibly gracious", but work in America's interests, she adds.
www.bbc.com
She says Trump "believes that China wants to make a deal".
It was a "mistake" for China to retaliate, Leavitt argues, which is why they are implementing 104% tariffs against them.
If China reaches out, Trump will be "incredibly gracious", but work in America's interests, she adds.
Trump tariffs live updates: US markets rally as European stocks recover some ground after tariff turmoil
White House press secretary Karoline Leavitt says countries are "falling over themselves" to make a trade deal with Donald Trump.
www.bbc.com
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The food standards are just different too. Famously some Subway bread is classed as cake here due to the high sugar content. It would be VAT exempt if it were a staple food (bread) but a court ruled that it was confectionery and therefore not exempt.
Subway bread is not bread, Irish court rules
Judge finds that sugar content of US chain’s sandwiches exceeds stipulated limit and they should thus be classified as confectionery
The clincher was the act’s strict provision that the amount of sugar in bread “shall not exceed 2% of the weight of flour included in the dough”.
Subway’s bread, however, contains five times as much sugar. Or, as the supreme court put it: “In this case, there is no dispute that the bread supplied by Subway in its heated sandwiches has a sugar content of 10% of the weight of the flour included in the dough.”
The food standards are just different too. Famously some Subway bread is classed as cake here due to the high sugar content. It would be VAT exempt if it were a staple food (bread) but a court ruled that it was confectionery and therefore not exempt.
Subway bread is not bread, Irish court rules
Judge finds that sugar content of US chain’s sandwiches exceeds stipulated limit and they should thus be classified as confectionery
The clincher was the act’s strict provision that the amount of sugar in bread “shall not exceed 2% of the weight of flour included in the dough”.
Subway’s bread, however, contains five times as much sugar. Or, as the supreme court put it: “In this case, there is no dispute that the bread supplied by Subway in its heated sandwiches has a sugar content of 10% of the weight of the flour included in the dough.”
If the Subway bread has 5x as much sugar as other standard breads, it sounds like a health hazard. A large Subway sandiwich sounds like it would be like eating half a cake.
The food standards are just different too. Famously some Subway bread is classed as cake here due to the high sugar content. It would be VAT exempt if it were a staple food (bread) but a court ruled that it was confectionery and therefore not exempt.
Subway bread is not bread, Irish court rules
Judge finds that sugar content of US chain’s sandwiches exceeds stipulated limit and they should thus be classified as confectionery
The clincher was the act’s strict provision that the amount of sugar in bread “shall not exceed 2% of the weight of flour included in the dough”.
Subway’s bread, however, contains five times as much sugar. Or, as the supreme court put it: “In this case, there is no dispute that the bread supplied by Subway in its heated sandwiches has a sugar content of 10% of the weight of the flour included in the dough.”
And from the same article:
The ruling is not the first slice of controversy for the brand. In 2014, Subway decided to start removing the flour whitening agent azodicarbonamide from its baked goods after a petition circulated online. The ingredient is commonly used in the manufacture of yoga mats and carpet underlay and has been banned by the European Union and Australia from use in food products.
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US-China Trade Live: US imposes 104% tariffs on Chinese goods effective immediately; additional tariffs to be collected starting April 9: White House
m.economictimes.com
US-China Trade Highlights: US imposes 104% tariffs on Chinese goods effective immediately; additional tariffs to be collected starting April 9: White House - The Economic Times
US-China Trade Highlights: US imposes 104% tariffs on Chinese goods effective immediately; additional tariffs to be collected starting April 9: White House
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eek! my prediction is at some point trump will have to pretend he has gotten a very good deal from china (even when they won’t give him one) because china won’t be the one to back down and the billionaires will be madUS-China Trade Live: US imposes 104% tariffs on Chinese goods effective immediately; additional tariffs to be collected starting April 9: White House
US-China Trade Highlights: US imposes 104% tariffs on Chinese goods effective immediately; additional tariffs to be collected starting April 9: White House - The Economic Times
US-China Trade Highlights: US imposes 104% tariffs on Chinese goods effective immediately; additional tariffs to be collected starting April 9: White House
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Don't fancy a tuna mayo cake sandwich - yuck
I'll give US bread a miss thank you kindly Donald.
Moo
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- The US would prevail in a global trade war, Steve Eisman said.
- Exports account for a bigger chunk of foreign GDP than the US, giving America an edge in talks, Eisman said.
- Some have said the US is poised to weather recession better than other countries.
"The reason why cooler heads will prevail is that, again, in a trade war, everybody will suffer; the US will suffer the least," he said Tuesday.
'Big Short' investor Steve Eisman says the US will win a trade war — and Trump will get everything he wants 'if reasonable heads prevail'
"The reason why cooler heads will prevail is that, again, in a trade war, everybody will suffer; the US will suffer the least," Eisman said.
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The United States Senate Committee on Finance
Wyden, Paul, Schumer and Kaine Release Bipartisan Resolution to Repeal Global Tariffs and Restore Congressional Authority Over Trade
www.finance.senate.gov
US-China Trade Live: US imposes 104% tariffs on Chinese goods effective immediately; additional tariffs to be collected starting April 9: White House
US-China Trade Highlights: US imposes 104% tariffs on Chinese goods effective immediately; additional tariffs to be collected starting April 9: White House - The Economic Times
US-China Trade Highlights: US imposes 104% tariffs on Chinese goods effective immediately; additional tariffs to be collected starting April 9: White House
Crazy. As others have said in this thread, I never thought I'd be team China, but here we are.
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